Statistical Error
Statistical Error
In Statistics and Optimization, Statistical Errors and Residuals are two closely related and easily confused measures of “Deviation of a sample from the mean”.
Error is misnomer; an error is the amount by which an observation differs from its expected value. The errors e are unobservable random variable, assumed to have zero mean and uncorrelated elements each with common variance σ2.
The sum of the errors need not be zero; the errors are independent random variables if the individuals are chosen from the population independently.
